Long-run Growth and Short-run Stabilization

Long-run Growth and Short-run Stabilization

By: Lawrence R. Klein (author)Hardback

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There is much confusion in the economics literature on wage determination and the employment - inflation trade-off. Few model builders pay as much careful attention to the definition and meaning of long-run concepts as did Albert Ando. Expanding on years of painstaking work by Ando, the contributors elaborate on the main issues of economic analysis and policies that concerned him.

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Preface; 1. The Economic Legacy of Albert Ando; 2. The Age-Saving Profile and the Life-Cycle Hypothesis; 3. Do Capital Gains Effect Consumption? Estimates of Wealth Effect from Italian Households' Behavior; 4. Demographic Changes, Reforms to the Social Security System and Private Saving in Italy; 5. Do the Elderly Dissave in Japan?; 6. On Robust Monetary Policy; 7. The European and the Transmission of Monetary Policy; 8. Monetary and Fiscal Policy in a Liquidity Trap; 9. A Three-Factor Yield Curve Model: Non-Affine Structure, Systematic Risk Sources and Generalized Duration; 10. The Over-Investment Hypothesis; 11. Designing Indexed Units of Account; 12. Land Prices and Business Fixed Investment in Japan; 13. Rationality, Behavior and Switching Idiosyncracies in the European-Dollar Exchange Rate; Index.

Product Details

  • publication date: 24/02/2006
  • ISBN13: 9781843766438
  • Format: Hardback
  • Number Of Pages: 416
  • ID: 9781843766438
  • ISBN10: 1843766434

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